As insurance, an assistance company or a government organization, you probably have to settle claims from all over the world in different currencies. But are you aware of how pricey it could be to pay these invoices through your bank?
After having specified the amount and the currency you want the recipient to receive, your bank will usually mention the fee they charge (usually from 10$ to +100$ depending on the amount transferred and the institution) and the full costs in your local currency. However, sending the money to another country in a different currency means that an exchange rate will be set. The problem is that this rate is typically 4 to 8% poorer than the mid-range market rate, the one you can easily find on Google.
Consequently, if you have to pay a 1000.00$ CAD invoice using your Euro account, it will likely end up costing you from 707 euros (4%) to 734 euros (8%) plus the wire fee of your bank while the real cost, using the mid-range market rate (1 $ CAD = 0.68 euro on August 28th 2019) should be about 678 euros. At the end, it will have cost you 39-96 euros to send your 1000.00$ CAD (including an estimate of 10 to 40 euros for the wire fee).
Fortunately, we can invoice you in multiple currencies (USD, CAD, Euro, GBP, AUD, NZD at this time), which allows you to pay your international provider through us or our services for a much better deal. Going back to the previous example, paying 1000.00$ CAD through us using your Euro account would only cost you from 693.60 euros (if the service was arranged with us) to 700.40 euros which probably means a saving of 23 euros to 73 euros for you as we only add 2 to 3% to the mid-range exchange rate without charging you any other payment fee.